Monday

How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

Tip #2 of 8 on how to get more Short Sale Business

I am committed to helping Realtors and Brokers expandtheir business by providing marketing tips and structuringthe short sale experience so you keep your fullcommission and do minimal work.

This tip is all about:

CALLING LOAN MODIFICATION COMPANIES TO GET TURN DOWNS

This is an excellent way to generateshort sale listings! Many homeowners want toexplore a loan modification before resortingto a short sale, however most simplydo not qualify. Mainly because they have apermanent hardship (like loss of job)or theycan't afford the three grand that the loanmod company charges.

Most Loan Modification companies havelarge quantities of these "bad" leads (bad for them, good for you).Partnering with just one large company could staff afull office of agents listing short sales for months!

The idea is that you call them and set up a relationshipwhere both you and the loan mod company arebenefiting. If you call and simply try to askfor business you might not get very far, but ifyou get creative and come up with a planwhere everyone will benefit from the relationshipyou can have great success!

Now is the time to make those partnershipshappen and then sit back and watch the short salelistings come to you.

Keep in mind, with Short Sale Pros you keepall your commission and we do all the work work with the bank!

What other methods are you using to take advantage of the short sale market? Look out of tip 3 coming out soon!

Keep in mind, you can contact me anytime to help get your short sales closed, with our model you keep all your commission and do none of the work!

Wednesday

How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

Tip #1 of 8 on how to get more Short Sale Business

I am committed to growing your business by providingmarketing tips and structuring the short sale so you keep your fullcommission and do minimal work.

This tip is all about:

CALLING EXPIRED SHORT SALE LISTINGS.

A MLS search can provide another piece of useful information that mostagents don’t utilize.

An expired short sale listing can sometimes be up for the taking. Approachthe seller by explaining that their property most likely didn’t sell because it was not priced correctly. This can be quite common with the constant fluctuation in the market.

Setup a search in the MLS to deliver updatesto you every day with the following criteria:1. Expired listings2. Short sale3. Price range and location you want to work

By offering them a no-cost solution to their problem by using YOUR listingexperience and Short Sale Pros negotiation expertise, they have the best chance atselling their home, saving their credit, and insuring their ability to purchase again.

What other methods are you using to take advantage of the short sale market? Look out of tip 2 coming out soon!

Keep in mind, you can contact me anytime to help get your short sales closed, with our model you keep all your commission and do none of the work!

I was recently asked the question by a homeowner going into foreclosure…

What is the benefit of going into a Short Sale vs Foreclosure?

Although this is a question we get asked with nearly every client, this particular client wanted to know all the exact specifics. Since you are reading this now, you can probably benefit from the information that we found out when digging even deeper into the issue of what is the best option for most homeowners: Short Sale or a Foreclosure?

After doing all the research I am convinced now more than ever that the decision is a no brainer for most homeowners… A Short Sale is the OBVIOUS choice. Take a look at an email I sent to this client and see for yourself:

“Hope your doing well. We have been playing a little phone tag lately it seems, give me a call back when you get the chance.

After our conversations, you sparked an interest in me getting to the bottom of the question Short Sale vs Foreclosure?

Along with finding out great information on the mortgage debt forgiveness relief act:
http://realestateblog360.blogspot.com/2009/04/what-is-mortgage-forgiveness-debt.html

I also recently contacted Fannie Mae to get their latest guidelines as far as the exact credit impact of a Short Sale versus a Foreclosure, which I thought would be helpful to you in your research:
Short Sale: Fannie Mae refers to these as “Preforeclosure Sales” and requires only a 2 year waiting period after the sale, with acceptable re-established credit to re purchase.

Foreclosure: Standard minimum 5 years waiting period, with minimum of 10% down & 680 credit score for 7 years to re purchase. Primary residences only, no second homes or investment property loans for 7 years.

Take a look at the full report: https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf

Give me a call when you get the chance and we can discuss how you wish to move forward.”

Meaning: If the property owner goes through a Short Sale they will be able to purchase a home again in the next 2 years. A foreclosure on the other hand, they will have to wait at least 5 years!

The question is simple: Do you want to purchase a home again in 2 years or 5?

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This Blog (RealEstateBlog360) is intended to be a general discussion only, and must not be considered legal advice. Your use of it does not create an attorney-client relationship. Any liability that might arise from your use or reliance on these blog posts, or any of its links, is expressly disclaimed. This blog is not legal, loan, accounting, or tax advice, and is not to be acted on as such, it was outdated the moment it was written, and is subject to change without notice. If you are dealing with a potential real estate investment, foreclosure, short-sale or any other type of transaction, you are advised to consult the appropriate licensed professionals.